Notice

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Supporting Talbot Partnership

Alcohol and substance abuse is a major problem everywhere, and particularly in Talbot County. It causes harm to our youth, impacts crime and safety in our community, costs each of us in terms of what we spend on law enforcement, drug treatment and the criminal justice system. Additionally, it is the major cause of disruption in our schools, workplace and neighborhoods. We need your help!

Talbot Partnership is the leading community advocate for alcohol and other drug abuse prevention. Through your donation, you can help Talbot Partnership continue offering these important resources to our communities, building a positive community culture where youth and adults lead healthy, safe and productive lives.

Talbot Partnership 8 Goldsborough StreetSuite 203Easton, MD 21601

Looking for ways to make a difference, but can't afford to do as much now as you would like? Here are some options:

Leaving Property to Charity

When it comes to charities and estate planning, leaving a home or a vacation cottage to a charity is an option. The charity will receive title to the property, or cash after the property is sold. Meanwhile, the individual is free to live in or use the property during his or her lifetime.

Giving Your IRA to Charity

If you decide to transfer the balance in your IRA to a charity, the funds will be transferred to that organization tax-free. If you want to make your donation to the charity during your lifetime, you can withdraw the funds from the IRA, pay the required taxes, and then transfer the balance to the organization of your choice.

Contingent Beneficiaries

Another option is to leave the funds in your IRA to one of your heirs, with a contingency clause added to your will. This way, your heir can choose to either keep the funds from the IRA (and pay the required taxes) or pass them on to the charity named as a contingent beneficiary.

Gift Annuity

A gift annuity is an option for a homeowner or property owner who wants to donate real estate to charity but who needs a regular source of income during his or her lifetime.

How a Gift Annuity Works

The donor gives the home, property, or cash to the charity. In return, the charity purchases an annuity in the name of the donor. The annuity provides monthly payments to the donor for the rest of his or her life.

The payment the donor receives varies based on the face amount of the annuity and his or her age. A certain percentage of the payment is tax-free, which is another advantage to this plan.

The donor may choose to receive payments from the gift annuity immediately or defer payments for a certain time. If the donor chooses the deferred gift annuity option, the payments must be deferred for at least one year.

Charitable Remainder Trust

Another option which includes charities in estate planning is a charitable remainder trust. As the name implies, the trust provides income to the donor during his or her lifetime, and then pays the remaining funds to the charity after the donor's death.

Advantages of a Charitable Remainder Trust

If a person has a sizable asset to donate to charity, using a charitable remainder trust can be a good option. The trust can sell the donated property without being subject to capital gains tax. The donor receives an income for life, based on a percentage of the value of the property put into trust, and an income tax receipt for his or her donation.

Leaving Property to Charity

When it comes to charities and estate planning, leaving a home or a vacation cottage to a charity is an option. The charity will receive title to the property, or cash after the property is sold. Meanwhile, the individual is free to live in or use the property during his or her lifetime.

Giving Your IRA to Charity

If you decide to transfer the balance in your IRA to a charity, the funds will be transferred to that organization If you want to make your donation to the charity during your lifetime, you can withdraw the funds from the IRA, pay the required taxes, and then transfer the balance to the organization of your choice.

Contingent Beneficiaries

Another option is to leave the funds in your IRA to one of your heirs, with a contingency clause added to your will. This way, your heir can choose to either keep the funds from the IRA (and pay the required taxes) or pass them on to the charity named as a contingent beneficiary.

Gift Annuity

A gift annuity is an option for a homeowner or property owner who wants to donate real estate to charity but who needs a regular source of income during his or her lifetime.

How a Gift Annuity Works

The donor gives the home, property, or cash to the charity. In return, the charity purchases an annuity in the name of the donor. The annuity provides monthly payments to the donor for the rest of his or her life.

The payment the donor receives varies based on the face amount of the annuity and his or her age. A certain percentage of the payment is tax-free, which is another advantage to this plan.

The donor may choose to receive payments from the gift annuity immediately or defer payments for a certain time. If the donor chooses the deferred gift annuity option, the payments must be deferred for at least one year.

Charitable Remainder Trust

Another option which includes charities in estate planning is a charitable remainder trust. As the name implies, the trust provides income to the donor during his or her lifetime, and then pays the remaining funds to the charity after the donor's death.

Advantages of a Charitable Remainder Trust

If a person has a sizable asset to donate to charity, using a charitable remainder trust can be a good option. The trust can sell the donated property without being subject to capital gains tax. The donor receives an income for life, based on a percentage of the value of the property put into trust, and an income tax receipt for his or her donation.

Talbot Partnership is a member of Mid Shore Community Foundation, a community charitable foundation that promotes and facilitates philanthropy on the Eastern Shore. The Mid Shore Community is able to help you plan ways for you to assist.